Each year, Selling Power magazine releases its list of the 50 Best Companies to Sell For. According to a press release, the magazine’s founder and publisher refers to these companies as cutting edge and representative of the “future of selling.”
The research team from Selling Power judges applicants on many categories, including:
- Compensation and benefits
- Sales-rep onboarding and sales enablement
- Sales training and coaching
- Sales culture
Just looking through the top ten, a few common themes appear. It’s clear that the best companies to sell for use non-cash rewards and recognition to retain their top salespeople. Companies like Merrill Corporation and the top-ranked CA Technologies have a group incentive travel trip planned. Compuware, in fifth place, includes reps in monthly rankings and celebrates winners quarterly – which helps drive competition. Additionally, topnotch training and communication sets these companies apart.
If you want your company to be thought of as the Best Company to Sell For, you’ll need to build a culture of training, collaboration, appreciation, recognition and of course, rewards. There is no one-size-fits-all approach when it comes to building the right sales incentive plan. Here’s a look at some of the ways we’ve helped our clients deliver on these important principles.
Communication: The Sales Playbook Comes to Life
Our client was in the middle of a comprehensive product renaissance, as their brand was evolving to a more premium status, creating a need for a complete redesign of their marquee dealership incentive program. During the qualification period, consistent and strategic communications encouraged sales managers to be “Game Changers” by striving for higher levels of personal and team commitment. Digital messaging, mailed promotional pieces and a sales playbook appealed to the diverse audience and cut through the clutter of the everyday noise at the dealerships. It all culminated in an exclusive (and unforgettable!) event at Dallas Cowboys Stadium. Read More
Training and Collaboration: Upping the Ante with Social Proof
We built an intuitive, social solution for a client looking to drive incremental sales, increase training participation, and create a sense of cohesiveness with a geographically widespread sales team. Leaderboards were created throughout the platform, highlighting each participant’s standings against the team. Training program results were highly connected to sales results; increasing both participation and friendly competition. Read More
Rewards: Flexibility and Personalization Reign
To satisfy the need for increased flexibility and more personalized reward offerings, we designed a platform around a merchandise catalog where hundreds of individual items were made available, providing a more customized experience. In addition to a wide array of merchandise, participants could choose from existing travel packages or “do-it-yourself” travel options. Read More
Recognition and Celebration: Non-Cash is the Way to Go
A sales culture can be greatly impacted by the offering of team incentives. In fact, team incentives have been found to increase performance by 44%, according to the Incentive Research Foundation. Not to mention the social buzz surrounding something like an incentive travel trip. While it’s taboo to talk about the cash bonus you received, a trip to Cabo sponsored by your company is hard to keep to yourself! We’ve planned countless experiences to recognize achievement and celebrate success. Read More
Other notable companies make the list too – Aramark, Waste Management, Google, Xerox, Microsoft and more; and we’d bet they all have a solid incentive strategy.
Is your sales incentive program performing at its peak? Find out now by taking this quiz.